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. >> and that is increasing and guess what, that adds up to the deficit, right? >> david, the problem is deeper than wh you are describing. this goes back decades. when you look at entitlement spending over the last half century, it has steadily crept up four percent every year and that includes adjustments for pulation growth. so what then? you increase taxes four percent every year? that is absurd. at some point we need both parts to come together and tax this entlement creep. we mention obama ape lot. he hasn't helped the numbers. but when you look at enment spending it goes up under a republican president. he can go in this and blame the republicans. >> i didn't know there was a entitlement creep. maybe i got you wrong. >> it is it an itch. >> and john, what abouthis. we have a budget if you can call it a budget that includes tax increases and no cuts at all from our treasury security. >> the tax increase aspect is ridickulous. we have a spending problem . you look at entitlements. i think it is i i don't they should exist. we did make promises and so the ide
. >> and that is increasing and guess what, that adds up to the deficit, right? >> david, the problem is deeper than wh you are describing. this goes back decades. when you look at entitlement spending over the last half century, it has steadily crept up four percent every year and that includes adjustments for pulation growth. so what then? you increase taxes four percent every year? that is absurd. at some point we need both parts to come together and tax this entlement creep. we...
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pelosi says we cannot get our way to deficit reduction. listen to the top democrat in the house of representatives, the former speaker of th house unveiling -- on dealing with the fiscal cris one more time. >> in many homes across america ad is a very, very lean time. you cannot cut your way to ficit reduction. lou: toay said minority leader appeared to be trying to outperform policy and the political rhetoric of the absurd . senator reid's reason to be wary of reducing spending. >> the european community now is concerned about all the austerity. there are many, many things you can do to reduce dbt but still have a stimulus aspect of the economy. >> that -- lou: the senate's top democrat lieves we should return to europe for inspiration and guidance for fiscal policy, taking greece, perhaps, as a standard for dealing with econic a budget crises. the speaker did a charge the president is slow walking the nation to the brink of a fiscal cliff. that is one of the speakers firmest in the strongest statements yet. >> this is in a progress repor
pelosi says we cannot get our way to deficit reduction. listen to the top democrat in the house of representatives, the former speaker of th house unveiling -- on dealing with the fiscal cris one more time. >> in many homes across america ad is a very, very lean time. you cannot cut your way to ficit reduction. lou: toay said minority leader appeared to be trying to outperform policy and the political rhetoric of the absurd . senator reid's reason to be wary of reducing spending. >>...
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Dec 20, 2012
12/12
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they have been far apart sice summer of 2011 will cut the deficit superhuman i couldn't agree on anything. that is why we are getting a situation that with the sequester. what is becoming clear to people is that for the republicans, it is in part to the tax increases, but the house, it is the fact that the democrats won't commit on sunday. so they are being asked to make a hard commitment on tax increases that ar real. the one we know exactly how that goes because we have seen a before. >> yes, that song and dance has been heard before. but i would argue that if there is a pn in place by december 31, it won't matter. when you look 10 years now, according to the republican plan, there will be x amount of debt. this isn't solving anything. i would question dan to say, he's right that obama won't commit on spending, but the republicans also what about details. if they really believe that spending is the problem, they ought to lay out what they are going to do. what are they talking about? a trillion dollars? >> i think they are committed to making adjustments to medicare and to medicaid and
they have been far apart sice summer of 2011 will cut the deficit superhuman i couldn't agree on anything. that is why we are getting a situation that with the sequester. what is becoming clear to people is that for the republicans, it is in part to the tax increases, but the house, it is the fact that the democrats won't commit on sunday. so they are being asked to make a hard commitment on tax increases that ar real. the one we know exactly how that goes because we have seen a before....
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have four years without a budget, three years without a budget -- three years with a trillion dollar deficit. so we are talking about a problem that needs to be solved with massive spending cuts on the table. neil: i don't know what is really happening behind the scenes. but i do know that these overtures and hands that you get from the white house that the president is open and willing to consider spending cuts -- i don't know what the truth is. the other thing on this middle ground, the tax thing -- letting the difference of 37 or 38%. giving the appearance tat there is a middle ground being found here, do you believe that? >> if you look at the middle ground and what is reported, they are giving specics on taxes, but not stunning. they are saying that those tax cuts will happen 10 to 20 years from now. that is saying that congrs at that time, 10 years from now, is going to agree with the spending cuts. listen, we are in this situation because coogress could not even agree on spending cuts your way when the sequester was going into effect and they failed as a super committee in november. t
have four years without a budget, three years without a budget -- three years with a trillion dollar deficit. so we are talking about a problem that needs to be solved with massive spending cuts on the table. neil: i don't know what is really happening behind the scenes. but i do know that these overtures and hands that you get from the white house that the president is open and willing to consider spending cuts -- i don't know what the truth is. the other thing on this middle ground, the tax...
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Dec 11, 2012
12/12
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the obama plan has $2 trillion in deficit reduction over the next ten years. the boehner plan goes for $2 trillionn deficit reduction, boehner wants, oh, yeah, he's going to kkck tail, allght? we're going to get2.2 bilion in t spending of this country. let me repase that. that'll be a $2.2 trillion reduction in the totallanned spending. the growth of our spending will alter, it'lle just about that line right there. we're potentially oking at the republican plan, well, in 2020, i guess the best way to show you isust how tough it is. we'll only have a deficit and a debt, a national debt under the boehner plan -- remember, this is the o plan, is is the b plan -- $25.2 trillion by 2022. mr. obama wants $350 billn in entitlement cuts over the next ten years, mr. boehner wants $800 billion in entitlement cuts, and we're going to see a big, dramatic negotiation. and whatou and i is -- and all of our fellow americans are looking at is the prospect of a recession next year if the president and mr. boehner can't come to an agreement, as much as a 10% unemployment rate b
the obama plan has $2 trillion in deficit reduction over the next ten years. the boehner plan goes for $2 trillionn deficit reduction, boehner wants, oh, yeah, he's going to kkck tail, allght? we're going to get2.2 bilion in t spending of this country. let me repase that. that'll be a $2.2 trillion reduction in the totallanned spending. the growth of our spending will alter, it'lle just about that line right there. we're potentially oking at the republican plan, well, in 2020, i guess the best...
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Dec 11, 2012
12/12
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>> have said i would work with republicans a pla for economic growt jobs creation and reducing our deficit and have some compromise between democrats and republicans, i understand people have a lot of different views, i'm willing to mpromise a little bit. >> the presi met with speaker john boehner yesterd. not discussing any details of the conversations, just saying as you said athe top, lines of communications are open. also talking to senate majory leader harry rd today as well. everybody is talking but we don't have a deal yet. tracy:s anybody talking abou spending or entitlements, peter? >> there making it pretty clear. one statement we got from speakejohnoehner's office today was that the republicans contininue to wait for the president to make specific propals for cutting snding.3 that is at they want. acy: we don't sound any closer to me, but again i am skeptical. down in d.c. grea thanks. traay: the president is going to @ompromise as peter just said. what are republicans willing to compromise on. we have got to ask mike leef utah. i am sorry i am so skeptic. 58% of america don't t
>> have said i would work with republicans a pla for economic growt jobs creation and reducing our deficit and have some compromise between democrats and republicans, i understand people have a lot of different views, i'm willing to mpromise a little bit. >> the presi met with speaker john boehner yesterd. not discussing any details of the conversations, just saying as you said athe top, lines of communications are open. also talking to senate majory leader harry rd today as well....
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. >> first of all, we don't have the money to pay for the past two deficits. i don't believe weevil have the money for the current spending related to sandy. there's not a tax for that, pretty sure. to the point to have the additional costs which would have to be hundreds and hundreds of billions of dollars, where's that's coming from? unless they use taxes on fuels to be the solution, that, at least, in theory, does not cost the government money. it doesn't mean it passes or have other effects. neil: cost money? >> not economy, but it will not look like they need o spend to solve the problem if that's the way it goes. neil: [inaudible] >> yeah, we're broke. we're turn your pockets inside out, it's over. no money. neil: you got the point across. thank you, both, very much. washington, we have a problem. don't think so? here's it's straight from the real guys behind this, after this. ♪ >> in is houston, say again, please. >> houston, we have a problem. we have a main bolt, we have a lot of thruster, activity, houston. just went offline. ♪ you know how painf
. >> first of all, we don't have the money to pay for the past two deficits. i don't believe weevil have the money for the current spending related to sandy. there's not a tax for that, pretty sure. to the point to have the additional costs which would have to be hundreds and hundreds of billions of dollars, where's that's coming from? unless they use taxes on fuels to be the solution, that, at least, in theory, does not cost the government money. it doesn't mean it passes or have other...
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Dec 1, 2012
12/12
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our biggest near term problem is not the budget deficit. that is a long-term problem, a serious problems, we have a chance to do something about it. . if we can at the same time, help the 2013 economy by giving it a bit of a boost, that means a lot to workers, their paychecks, job availability. i'm very happy to see that was in there. >> when you look at the white house's proposal, what do you think they think they can actually get? >> i think they think they can get the increase in the top rates. that's the biggest kind of thing to finally break the mold on that, to really push back against the kind of grover norquist ian asymmetry. i think they can get that. i'm not sure we end up at 396 for the top rate, but i think they will get that. i think probably by giving some on the entitlements as is in their opening bid, they will be able to get back to perhaps some of the stimulus ideas as well. certainly on the taxes. and maybe something on the near term to help the economy. >> i've been talking to a number of republican offices. one thing i'
our biggest near term problem is not the budget deficit. that is a long-term problem, a serious problems, we have a chance to do something about it. . if we can at the same time, help the 2013 economy by giving it a bit of a boost, that means a lot to workers, their paychecks, job availability. i'm very happy to see that was in there. >> when you look at the white house's proposal, what do you think they think they can actually get? >> i think they think they can get the increase in...
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Dec 12, 2012
12/12
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president wants a stimulus, at a time where we have a tril trillion dollar deficit, the real solution. the one that speaker boehner is working hard for, we're in it together. we're taxed too little or spending too much or a mbination of the two, if we do it, it has to be 100%. neil: do you believe we're taxed too little? >> in some cases dollar taxes that could be different, speaking for myself, from 20% to 15% on capital gains that is not change my considering on capital gains. i am a . >> you are open to the investor-related taxes that go up with this plan? >> i believe that -- >> not income related ? >> i believe that at zero tax you get no revenue, at 100% tax you get no productivity. you are trying to find is what maximum revenue to government is, including maximum economic growth. neil: you would be open to speaker boehner offering the 800 billion in revenue, however that is sorted out, he does not want rate hikes, he wants a limit on deducts and write-offs, would either be fine with you? >> neil, we have a lot of hidden things in tax code. i can take a building and put a new ro
president wants a stimulus, at a time where we have a tril trillion dollar deficit, the real solution. the one that speaker boehner is working hard for, we're in it together. we're taxed too little or spending too much or a mbination of the two, if we do it, it has to be 100%. neil: do you believe we're taxed too little? >> in some cases dollar taxes that could be different, speaking for myself, from 20% to 15% on capital gains that is not change my considering on capital gains. i am a ....
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there are studies that say over million people and other deficits, close the huge deficits might not have a huge effect on the economy, however, if xes across the board and let's not forget the spending cuts that are ought maic in the defense industry, defense industry alone is looking at hundreds of thousands of job cuts next year with nos mandatory cuts go into effect. i'm not saying they are. so it's both cutting and taxing, we're too focus on the tax. bottom line, the government takes it out of the system cutting and raising taxes and the small or deficit. that means that people are going to be out of work, almost by definition in the short run. but in the long run it's a healthier economy that doesn't go down the path of greece. if the long run greece would have low unemployment, but they do not, but yes, we're going to go a percent, if it happens the worse case scenario, but in five years we won't be not able to borrow money. >> brenda: julian, you can go ahead and respond. >> first of l, the ernst & young study has been debunked over and ov. and number two, the bush tax cuts,
there are studies that say over million people and other deficits, close the huge deficits might not have a huge effect on the economy, however, if xes across the board and let's not forget the spending cuts that are ought maic in the defense industry, defense industry alone is looking at hundreds of thousands of job cuts next year with nos mandatory cuts go into effect. i'm not saying they are. so it's both cutting and taxing, we're too focus on the tax. bottom line, the government takes it...
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Dec 25, 2012
12/12
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serious proposals to reduce the deficit and really end our national debt. potentially, a significant blow to the obamacare controversial o contraceptive mandate. the eighth circuit court of appeals in the preliminary injunction to stop the mandate for being enforced against the missouri catholic businesswne owners.the li the list of statesst o now, refg to set up state-run health care exchanges for insurance. it is growing. arizona becomes the latest to telling federal government but it will have to assume the burden of operating the exchange and the cost and the supervision, perhaps even running backstage, bringing the total number of states refusing to set up an exchange under obamacare to 17 states. ten other states remainm undecided as to the course they will take or it will be state, the way, the 17 states havenow e republican governors.ppellate we are joined now by peter johnson. it's great to see you. >> thank you for having me, louu dobbs. lou: what is your reaction totie that injunction against the contraceptive mandate? >> it is a surprisingri, in
serious proposals to reduce the deficit and really end our national debt. potentially, a significant blow to the obamacare controversial o contraceptive mandate. the eighth circuit court of appeals in the preliminary injunction to stop the mandate for being enforced against the missouri catholic businesswne owners.the li the list of statesst o now, refg to set up state-run health care exchanges for insurance. it is growing. arizona becomes the latest to telling federal government but it will...
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we go the to 2010, 2011, 2012 it adds up close to where our deficit is. neil: a very good pnt. i wish we had more time. b s little time. more after ts. i ierrupt, you interrupt, and i ierrupt, you interrupt, and then you sende all sorts of you know how painful hearn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps blocktomach acid from splashing up- relievinghe pain quickly. t fast, long lasting gaviscon®. relievinghe pain quickly. 7,000 students droout every school day. that's a line of desks more than 4 miles long. keep students in school. visit boostup.org and take the firsttep. >> rememr the-mails abouttmy interruptions? i read it through of flurry of commons that interru y too much. that dot dozens of peopl fired . for thospeople w rate the mean matte are not. >> i love you bled if interrupting people was money would be a millionaire. >> how couldnybody
we go the to 2010, 2011, 2012 it adds up close to where our deficit is. neil: a very good pnt. i wish we had more time. b s little time. more after ts. i ierrupt, you interrupt, and i ierrupt, you interrupt, and then you sende all sorts of you know how painful hearn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps blocktomach acid from splashing up- relievinghe pain quickly. t fast, long lasting gaviscon®....
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Dec 19, 2012
12/12
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you can raise and lower taxes, not goingt impact on the deficit. actually, if you lower them intelligeny, you might grow the economy and maybe grow your way out of the deficit, but the fact is we have to restrain spending, restrain spending by 10% or 15% a year, and until we do that, we're heading for a disaster. obviously, we're not going to do it. the president has no ability to control his party to do it. i don't think the president wants to do it. i mean, it's -- it'sa terrible, terrible mistake that we're going to see the results of three, four, five, six years from now, and the children will pay the price for a very, very long time. it's a president with no understanding of our economy, none. neil: all righh. we'll see what happens. mayor, thank you again. >> thank you. neil: as alts. -- as always. it's one to one now, and, by the way, that's if we're lucky. the senator who is no >> i made it clear to the president that i would put a trillion dollars worth of revenue on the table if you were willinto put a tllion dollars of spending reduction
you can raise and lower taxes, not goingt impact on the deficit. actually, if you lower them intelligeny, you might grow the economy and maybe grow your way out of the deficit, but the fact is we have to restrain spending, restrain spending by 10% or 15% a year, and until we do that, we're heading for a disaster. obviously, we're not going to do it. the president has no ability to control his party to do it. i don't think the president wants to do it. i mean, it's -- it'sa terrible, terrible...
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that leaves us with the deficit of one. that is the deficit. sizable it is. this will be the president's fourth for which he is personally responsible, fourth deficit in excess of a trillion dollars. president obama wants to plug that trillion dollars hole by raising taxes on household incomes, as we all know that have incomes over $250,000. the top 2%. that would bring in $802 million, $82 billion. that's about 8% of that deficit. so does that suggest we have a tax problem or, perhaps, a spendi problem? think about this. taxpayers making more than $250,000 representing the top 2% paid more than 46% of all texas. that would seem like a pretty fair deal to most of us, but the president says it is not fair. we don't know what that number is. how much shoulit be? and contrary to what the president would have you believe as he campaigns untack sites all around the country and against the wealthy, he's doing a lot of that. the bush tax rates are not the root of our problems. in fact, individual tax payments rose, get thi $2,303,000,000,000 or 26%. over the past tw
that leaves us with the deficit of one. that is the deficit. sizable it is. this will be the president's fourth for which he is personally responsible, fourth deficit in excess of a trillion dollars. president obama wants to plug that trillion dollars hole by raising taxes on household incomes, as we all know that have incomes over $250,000. the top 2%. that would bring in $802 million, $82 billion. that's about 8% of that deficit. so does that suggest we have a tax problem or, perhaps, a...
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last i looked at the trade deficit, we were, again, lagging and uke sking popped water. there's arising deficit stripping our gdp. >>nd right now europe is in a relative deep recession. we're still above water. lou: you jumped all over the punch line because you talk about things not making sense. folks, this is not making sense. i'm delighted because people have wealth left in the equities market, the bond market. w long will that be the case if we go over the cliff? >> won't be the case for long if we have a recession followed by a typical bear market. lou: how long to get to recession -- >> we can get there pretty quick. in fact, some of the down downdrafts are starting to form. we saw those in the q3 gdp numbers were sinking into @%ntraction. lou: 2.7 -- >> employment reports gnar november and december, not surprised if gains in private sector payrolls are well over 100,000 new jobs. lou: that would not be good. baseline at least, i think, for passable is 125. what's your judgment? >> about the same, okay, that's a c-minus grade, get a "c" if we hit 150. lou: might s
last i looked at the trade deficit, we were, again, lagging and uke sking popped water. there's arising deficit stripping our gdp. >>nd right now europe is in a relative deep recession. we're still above water. lou: you jumped all over the punch line because you talk about things not making sense. folks, this is not making sense. i'm delighted because people have wealth left in the equities market, the bond market. w long will that be the case if we go over the cliff? >> won't be...
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Nov 29, 2012
11/12
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we are talking about deficit reduction, and the president is proposing new spending at top of all the other spending. republicans going into the deficit reduction talks talking about another dividend tax cut is something like that. a very poisonous way to start since the negotiations between two sites. the second thing that is important here is how we are viewing these jobless benefits. the administration is firming in in terms of job creation. that is not what they are. gerri: this is a study they did it, extending jobless benefits would create 300,000 jobs. i had to read it twice to figure out what they were talking about . and it still made no sense to me. explain the contorted logic to work here. >> thee're saying by putting money into the pockets of unemployed people that will deal to spend it on rant and consumer goods which will create jobs in the real-estate industry in the retail industry. the problem is a does not take into account that the people have to look for jobs that would also be doing that. double counting the money. the difficult thing is what we are talking about
we are talking about deficit reduction, and the president is proposing new spending at top of all the other spending. republicans going into the deficit reduction talks talking about another dividend tax cut is something like that. a very poisonous way to start since the negotiations between two sites. the second thing that is important here is how we are viewing these jobless benefits. the administration is firming in in terms of job creation. that is not what they are. gerri: this is a study...
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Nov 29, 2012
11/12
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this will not make a dent in the deficit. here to disagree with me is christian dorsey from the economic policy institute. christian, thank you so much for coming back to the show. you are always a spirited debate partner. tell me why you like this. >> i'll tell you, melissa, to me this is not so much about the revenue that it would raise but about the message and principle it stand for, that we can't in this country have a situation where people are making millions of dollars effectively paying lower tax rates than america's middle class families. the principle of this, of this rule is actually what's most important. the revenue that it raises, it is important because it is not chump change but it is not in of itself going to change our deficit conversation but the principle is one that is extremely important. liz: but you're talking about wealthier people. well thinker people pay a higher average tax rate. everybody pulls out the stat that they want to look at. if you look at average tax rate of the top 1%, it is 23%, almos
this will not make a dent in the deficit. here to disagree with me is christian dorsey from the economic policy institute. christian, thank you so much for coming back to the show. you are always a spirited debate partner. tell me why you like this. >> i'll tell you, melissa, to me this is not so much about the revenue that it would raise but about the message and principle it stand for, that we can't in this country have a situation where people are making millions of dollars effectively...
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Nov 30, 2012
11/12
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melissa: scott, we have an enormous deficit. how will we close that if we don't get money from the rich? >> i think there are lots of ways to raise revenue. privatization was just mentioned. asset sales. sell off a lot of government businesses. let's tax some unproductive things out there, things not already in the tax code. there are lots of difficult ways you can raise revenues without underpining economic growth. melissa: that was a test. the answer was we'll cut spending but that is okay. thanks for both of you joining us. >>> to an important gas warning today that affect anyone with car older than 2012. that is whole lot of people. e15 is higher blend of ethanol and gasoline. it is epa approved and sold in handful of states. aaa says don't use it will damage your car engine. that is aaa saying that. at least 10 car companies saying they will not cover any claims of damage due to this fuel, due to e15. it will void your warranty if you use it. here to explain exactly what you need to know is rainshower ren fix of the car coa
melissa: scott, we have an enormous deficit. how will we close that if we don't get money from the rich? >> i think there are lots of ways to raise revenue. privatization was just mentioned. asset sales. sell off a lot of government businesses. let's tax some unproductive things out there, things not already in the tax code. there are lots of difficult ways you can raise revenues without underpining economic growth. melissa: that was a test. the answer was we'll cut spending but that is...
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Dec 13, 2012
12/12
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lou: more on fiscal cliff, and fact that nobody plan achieves real deficit reduction, we'll take up that. stay with us. >> someone in dc is focussed on job, fed chairman ben bernanke pledging more easy money to cut the unemployment rate. what does the economy look like in the new year, wells fargo chief economist, john silvio next. lou: chairman ben bernanke made a historic move sitting unemployment rate as a target for monetary policy. we'll be taking that up, talking with wells fargo chief economist john silv sylvia in moments, and announcing they will spend -- a month buying mortgage-backed security. what the market expected and stocks rallied a bit on the announcement, a little. then ben bernanke talked about the fiscal cliff that ended that rally, stocks coming off their highs, index, swung 102 points over second, and s&p finished where it began, nascar -- nazdaq down over 8 points, and trading on big board, busiest in the week, walmart a big mover, dropping retailer part of an overall weak group, best answer, profit taking with the sell-off walmart up, 18 -- almost 19ers in on the
lou: more on fiscal cliff, and fact that nobody plan achieves real deficit reduction, we'll take up that. stay with us. >> someone in dc is focussed on job, fed chairman ben bernanke pledging more easy money to cut the unemployment rate. what does the economy look like in the new year, wells fargo chief economist, john silvio next. lou: chairman ben bernanke made a historic move sitting unemployment rate as a target for monetary policy. we'll be taking that up, talking with wells fargo...
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Dec 18, 2012
12/12
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neil: part of it is hard choices. >> deficit reduction is on talking bout. it's all there. neil: all right, thank you, congressman, thank you very much. after the break, a private powwow at the white house. the president is backed into a corner. the economy may go off the cliff. [ morgan ] what's better than epic offers from visa like 20% off ea sports madden nfl 13? you should never go forth and fourteen, you can't do that. [ morgan ] getting a chance to hang out with madden in his game room. blue go. did you hear the pop? [ morgan ] and barbecue with madden. watch football with madden. learn from madden. was that good, coach? [ morgan ] and get coached by the ultimate coach madden. does all this make sense to you? um, yeah. [ morgan ] yup, pretty epic. join visa nfl fan offers and make your season epic. [ male announcer ] rated e for everyone. neil: if they are still talking, a deal must be in the works. john boehner met at the white house with the president today. great news, righ not necessarily. we have the former secretary to george w. bush. >> good evening. i think i
neil: part of it is hard choices. >> deficit reduction is on talking bout. it's all there. neil: all right, thank you, congressman, thank you very much. after the break, a private powwow at the white house. the president is backed into a corner. the economy may go off the cliff. [ morgan ] what's better than epic offers from visa like 20% off ea sports madden nfl 13? you should never go forth and fourteen, you can't do that. [ morgan ] getting a chance to hang out with madden in his game...
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Dec 18, 2012
12/12
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was the initial requst that there be over one half trilion and higher taxes, and that would have net deficit reduction which means there was nothing in the spending side, and that is not balanced by any measure. since then, most of the talks have gone underground. don't generally notice on the table. you know, we have seen from the other side is a real attempt to try to out compromise. we have seen the speaker put additional revenue on the table. we have seen him but potentially a debt ceiling freeze the marginal tax rate increases. these are all things that the president has asked for. gerri: let's break it down a little bit. you said tax hikes obviously on millionaires. a big changthe repblicans. to break it down, 1 trilon in cats, a chilean in revenue. obviously he is changing his position pretty dramatical. can they come to a grand? at this point earlier his proposal, as we just described, was supposed to be break through. democrats saying, we should pay attention to this. not now. what happened? >> well, i'm not sure. we have tax increases are bad, d the fact that have a fiscal cliff is
was the initial requst that there be over one half trilion and higher taxes, and that would have net deficit reduction which means there was nothing in the spending side, and that is not balanced by any measure. since then, most of the talks have gone underground. don't generally notice on the table. you know, we have seen from the other side is a real attempt to try to out compromise. we have seen the speaker put additional revenue on the table. we have seen him but potentially a debt ceiling...
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Dec 26, 2012
12/12
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deficit $536 billion. $536 million. back then social security made up 6.5%. 6.5%. of the federal budget. 6.5%. the decayed and medicare didn't exist back then. let's compare that to what we are doing now. a 20% of the budget on social security, and then we throw a 21% more of the federal budget for medicare, medicaid, and another 13% for other social programs, food stamps. so that comes up to a whopping 54% of the budget. 54%. forgot to mention this. it is kind of important, isn't it? back than median family income was about $38,000. $38,000. today it is $62,000. we will pretend that looks like a two and that looks like a six. we haven't done too well, more than half a century in raising a the median income ine this country and that is something he is right about, we do have to fix that. imagine this, it's got a nobel prize. the unions made up 24% read today that number a rather convenient because a reduction by half of 12% right now. it tells which were the country is moving in this nostalgia for a 91% tax rate. i want
deficit $536 billion. $536 million. back then social security made up 6.5%. 6.5%. of the federal budget. 6.5%. the decayed and medicare didn't exist back then. let's compare that to what we are doing now. a 20% of the budget on social security, and then we throw a 21% more of the federal budget for medicare, medicaid, and another 13% for other social programs, food stamps. so that comes up to a whopping 54% of the budget. 54%. forgot to mention this. it is kind of important, isn't it? back than...
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Dec 12, 2012
12/12
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percent of china's merchandise trade surplus related to sales to the united states meaning they run deficits with the rest of the world so they run this enormous surplus with us. that gives us leverage, but only if we carry use it tracy: i remember when i was a kid they said japan was buying of rockefeller center. japan's by to take over the world. that never happened. >> no, but japan was our ally. we could deal with thejapanese on a reasonable basis. the problem with china is that it sees itself as supplanting the united states. has been very hostile and aggressive in recent years. it's trying to push the u.s. out of asia. they are not our friend, and so we don't want to give them a foothold in our economy. trac that being said, how do we stop this? do we not allow these deals to happen? in the u.s. is basically putting a defense. >> the chinese put up a fence. we couldn't buy if it were a chinese enterprise. we can stop this because the committee on foreign investment in the u.s. has the final say on sensitive acquisitions. and so they cann stop the acquisition. tracy: that probably shoul
percent of china's merchandise trade surplus related to sales to the united states meaning they run deficits with the rest of the world so they run this enormous surplus with us. that gives us leverage, but only if we carry use it tracy: i remember when i was a kid they said japan was buying of rockefeller center. japan's by to take over the world. that never happened. >> no, but japan was our ally. we could deal with thejapanese on a reasonable basis. the problem with china is that it...
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Dec 20, 2012
12/12
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. >> deficit. >> debt. >> deficits. >> massive debt and deficits. >> debt problems. >> debt problems. >> national debt. >> our debt is out of control. our deficits are out of control. melissa: we hear that all the time, right? deficits and the debt. the national debt clock spinning out of control every day. the federal government takes in about $5 billion and spends more than 11 billion every day! do you ever wonder how much of that number you and your family actually owe? the numbers are staggering. fox news's bret baier is here to break down the real cost of spending. bret, i love this series even though frankly it is really depressing, but it is information that we all need. nobody ever wants to crunch the numbers. so do it for us household by household basis. how much does my family actually owe as a result of these costs? >> yeah, melissa, it is staggering. it is depressing. when we say we owe it, it is a splitting up the debt per household and it breaks down to roughly 139, -- 139,000 per household, every single household in the u.s. as you mentioned the u.s. borrows roughly $6
. >> deficit. >> debt. >> deficits. >> massive debt and deficits. >> debt problems. >> debt problems. >> national debt. >> our debt is out of control. our deficits are out of control. melissa: we hear that all the time, right? deficits and the debt. the national debt clock spinning out of control every day. the federal government takes in about $5 billion and spends more than 11 billion every day! do you ever wonder how much of that number you and...
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Nov 30, 2012
11/12
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said, did not contribute to the deficit. it is supported by the payroll taxes. that workers and their employers pay. >> you have seen, surveys that show the direct we're going, we -- the direction we're going we have moved its trouble date up, compared to other programs, that is prestin my only point is why not put it out there, why not put out medicare, and medicaid and everything, and for republican defense, everything, and rather than pick and choose. >> whether defense, medicare, medicaid, those are out of general revenues, they are in a defendant category. social security, does nida, just need adjustments, it should not be part of solves will deficit. neil: i think what is intrinsic. is what you are not saying. that we're missing an opportunity to address the overall rate of money coming in and money going out. if you want to leave social security alone, and just look at all of other entitlements and big spending and hear, they say focus it has to be on taxes, i'm not here is a they don't raise taxes on the rich. the el
said, did not contribute to the deficit. it is supported by the payroll taxes. that workers and their employers pay. >> you have seen, surveys that show the direct we're going, we -- the direction we're going we have moved its trouble date up, compared to other programs, that is prestin my only point is why not put it out there, why not put out medicare, and medicaid and everything, and for republican defense, everything, and rather than pick and choose. >> whether defense,...
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Dec 22, 2012
12/12
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this is it the largest deficit reduction in history. >> president bush. >> american families have to balance their budgets and so should the government. >> and president. >> ever day families sacrifice to live in their means and they deserve a government to do the same. >> boehner insists that the president is singing a different tune. >> it is clear that the president is not serious about cutting speppeding, but speppeding is the problem. >> you can hear the talking heads every day and back and forth every day. but have you tried to get your head around how much the government doles out every day. what is the basic math we have the problem. >> in the month of november. the government brought in five billion worth of revenue . we spend more than 11 billion a day. the difference as you can clearly see is roughly six billion dollars. so how can we keep speppeding more than we take in? the econist said we can't. the government spends more than 11 billion a day. where does thity of the money g. top four outlays. department of health and human services that goes through three billion of t
this is it the largest deficit reduction in history. >> president bush. >> american families have to balance their budgets and so should the government. >> and president. >> ever day families sacrifice to live in their means and they deserve a government to do the same. >> boehner insists that the president is singing a different tune. >> it is clear that the president is not serious about cutting speppeding, but speppeding is the problem. >> you can...
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Dec 11, 2012
12/12
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MSNBCW
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today president obama outlined the deficit reduction legislation he would sign into law. >> what you need is a package that keeps taxes where they are for middle class families, we make some stuff spending cuts on things that we don't need, and then we ask the wealthiest americans to pay a slightly higher tax rate. and that's a principle i won't compromise on because i'm not going to have a situation where the wealthiest among us, including folks like me, get to keep all our tax breaks and then we're asking students to pay higher student loans. >> krystal, the republicans are on the run here. the new reel that we get to run every night about the latest republicans saying this is absolutely hopeless is absolutely amazing. limbaugh is an amazing spot tonight saying that he doesn't think that there is any republican that can stop this. >> my favorite has been ann coulter. >> how do you win this if all the rates go up? >> i think they are exactly right. i mean, if you're going to have -- if you're going to get what you want if you're republicans, you have to be able to threaten something
today president obama outlined the deficit reduction legislation he would sign into law. >> what you need is a package that keeps taxes where they are for middle class families, we make some stuff spending cuts on things that we don't need, and then we ask the wealthiest americans to pay a slightly higher tax rate. and that's a principle i won't compromise on because i'm not going to have a situation where the wealthiest among us, including folks like me, get to keep all our tax breaks...
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Dec 19, 2012
12/12
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given the fact we will add almost $10 trillion in deficits over the next 10 years whether either of the plans are enacted we will still have $21 trillion in debt by 2022. i thought maybe i would see the soldiers again. which makes me think thanks washington for nothing. they would do little to save the financial mess. gimmicks, all gimmicks. coming up, picng tea party favorite for the senate seat. reaction on what it means for the future of the g.o.p. gerri: libers love to say the g.o.p. is the all white male party, but senate republican will be the only africa american in the u. senate. the but, spent from south carolina elected to succeed jim demint. here to weigh in from the weekly standard. what do you make of this? it is fascinating to me that the only black senator would be a very conservative tea party candidate. >> the irony given all of the hammer and we have seen at the 2012 election aut the lack of diversity amongst republicans and what have you is if you look across the republican party and people likely to be leaders in the politics 10, 15 years from now, many republicans o
given the fact we will add almost $10 trillion in deficits over the next 10 years whether either of the plans are enacted we will still have $21 trillion in debt by 2022. i thought maybe i would see the soldiers again. which makes me think thanks washington for nothing. they would do little to save the financial mess. gimmicks, all gimmicks. coming up, picng tea party favorite for the senate seat. reaction on what it means for the future of the g.o.p. gerri: libers love to say the g.o.p. is the...
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Dec 29, 2012
12/12
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tom: will that tax solve the deficit spending? >> it will if you include 2%, 250,000 for couples, 200,000 for individuals and above. you start taxing capital gains and dividends, reinstate that and get rid o $109 billion in corporate taxes every year. you're looking it over $300 billion. ." tom: upside-down by trillion closet -- a trillion dollars. not even close to fixing the deficit spending. still adding to the debt under republican and democrat programs >> this kind of class warfare rhetoric is serving a purpose. the reality is the proposed tax increases will fund the federal government for approximately eight days. it might make people feel good and that's a reason to pass it. frankly, i don't hear any politicians talking reality but the fiscal problems facing the country which is democrat or republican. tom: do you have any hope that the blame game can be put aside so they can get some work done? in the private sector these people would be fired. >> absolutely. this is a do nothing congress, the least active in four years wh
tom: will that tax solve the deficit spending? >> it will if you include 2%, 250,000 for couples, 200,000 for individuals and above. you start taxing capital gains and dividends, reinstate that and get rid o $109 billion in corporate taxes every year. you're looking it over $300 billion. ." tom: upside-down by trillion closet -- a trillion dollars. not even close to fixing the deficit spending. still adding to the debt under republican and democrat programs >> this kind of...
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Dec 21, 2012
12/12
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to take that deficit down appreciably. i think they will go into hibernation, jus because of that. neil: you were very pressing on this. sure enough, aot of what you feared -- or maybe in this case highway patrolle hoped for, i think it was your view a bad deal would be better, craig thank you very much. if i don't speak to you again, try to have a merry christmas and a happy new year. >> well, hope you get enough, news to report in the next couple of days, neil. neil: i have a filing i will. >> a statement we're getting from speaker boehner, the house did not take up the tax measure today, because it did not have sufficient support from our members to pass. now it is up to the president to work with senator reid on legislation to avert the fiscal cliif, the housing already passed legislation to stop all january 1st acts rate increases and replace the sequester with responsible spending cuts that will begin to address our nation's crippling debt. th senate must now act. let me cut to the chase, what he just said -- i can't rally my troops mr. president, maybe you can yours, in a wo
to take that deficit down appreciably. i think they will go into hibernation, jus because of that. neil: you were very pressing on this. sure enough, aot of what you feared -- or maybe in this case highway patrolle hoped for, i think it was your view a bad deal would be better, craig thank you very much. if i don't speak to you again, try to have a merry christmas and a happy new year. >> well, hope you get enough, news to report in the next couple of days, neil. neil: i have a filing i...